German automaker Daimler said Wednesday that large investments and generally weak markets hit its bottom line in the first three months of this year. Daimler said in a statement that it booked net profit of 536 million euros ($697 million) in the period from January to March, a drop of 60 percent from the 1.347 billion euros it booked a year earlier. Operating profit, as measured by earnings before interest and tax (Ebit), tumbled 56 percent to 917 million euros on a 3.0-percent decline in revenues to 26.102 billion euros, the statement said.

German automaker Daimler said Thursday that its net profit rose by 8.0 percent to 6.495 billion euros ($8.8 billion) in 2012 on the back of record unit sales and revenues. "The past financial year was overall a strong year for Daimler. We achieved new records for unit sales and revenue at both the group and Mercedes-Benz Cars," said chief executive Dieter Zetsche. Revenues rose by 7.0 percent to 114.3 billion euros and the group sold a total 2.198 million vehicles worldwide, 4.0 percent more than in the previous year.

German automaker Daimler unveiled plans Friday to boost its position in the fast-growing Chinese market by acquiring for 640 million euros a 12-percent stake in the country's fifth-biggest car group. Daimler -- which at the end of last year created a new position on its management board dedicated especially to China -- said in a statement it had decided to deepen its existing partnership with Beijing Automotive Group (BAIC) by buying a stake in its passenger car unit BAIC Motor.